DAVENPORT & Co LLC Invests $4.50 Million in AST SpaceMobile, Inc.

The investment firm purchased 61,943 shares of the satellite broadband company's stock in the fourth quarter.

Mar. 28, 2026 at 7:57am

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DAVENPORT & Co LLC, a financial services firm, has purchased a new position in AST SpaceMobile, Inc. (NASDAQ:ASTS), acquiring 61,943 shares of the company's stock valued at approximately $4.5 million in the fourth quarter. AST SpaceMobile is a U.S.-based aerospace company developing a space-based cellular broadband network to connect mobile devices directly to satellites.

Why it matters

This investment by DAVENPORT & Co LLC, a respected financial institution, signals confidence in AST SpaceMobile's technology and business model. As the company works to build out its satellite network and expand its services, this influx of capital could help accelerate its growth and development.

The details

According to a recent filing with the Securities and Exchange Commission, DAVENPORT & Co LLC purchased the 61,943 shares of AST SpaceMobile stock in the fourth quarter of 2025. The investment was valued at approximately $4.5 million. AST SpaceMobile is a startup aiming to provide global cellular broadband access by operating a constellation of low-Earth-orbit satellites.

  • DAVENPORT & Co LLC purchased the AST SpaceMobile shares in the fourth quarter of 2025.

The players

DAVENPORT & Co LLC

A financial services firm that has purchased a new position in AST SpaceMobile, Inc.

AST SpaceMobile, Inc.

A U.S.-based aerospace company developing a space-based cellular broadband network to connect mobile devices directly to satellites.

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The takeaway

This investment by DAVENPORT & Co LLC represents a vote of confidence in AST SpaceMobile's potential to disrupt the satellite communications industry and provide global cellular connectivity. As the company continues to develop its technology and expand its network, this influx of capital could help drive its growth and solidify its position as a leader in the emerging space-based broadband market.